Filing Flows › HeartCore Enterprises (HTCR) › Q4 2025
HeartCore Enterprises (HTCR) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 31, 2026
HeartCore Enterprises (HTCR) reported revenue of $1.9M for the fourth quarter 2025 (Q4 2025), +35% from a year earlier and -36% from the quarter before. Operating margin was -65.9%, net earnings $7.2M (376.7% of revenue).
HeartCore Enterprises, Q4 2025: revenue $1.9M (+35% year over year), operating margin -65.9%, net earnings $7.2M, operating cash flow −$136K. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.9M | -36% | +35% |
| Operating profit | −$1.3M | — | — |
| Net earnings | $7.2M | 21× | — |
| Operating cash flow | −$136K | — | — |
What changed
Revenue was $1.9M in Q4 2025, up 35% year over year and down 36% from the previous quarter. Customised Software Development and Services was the largest line at 78% of revenue.
Gross margin was 28.8%. Operating costs exceeded revenue by $1.3M, an operating margin of -65.9%. Net earnings were $7.3M ($7.2M including minority interests, which bore $129K of losses). The effective tax rate was -0.1%. Non-operating items added $8.5M, 118% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$136K. Non-cash charges added back $9K of depreciation. Working capital and other items used $7.4M.
Questions
What was HeartCore Enterprises' revenue in the fourth quarter 2025?
HeartCore Enterprises (HTCR) reported revenue of $1.9M for the fourth quarter 2025 (Q4 2025), +35% from a year earlier and -36% from the quarter before.
Was HeartCore Enterprises profitable in the fourth quarter 2025?
Operating loss was $1.3M (-65.9% of revenue) and net earnings $7.2M.